• Dow books record high even as Powell warns on inflation

  Investors basically shrugged off an admission from Federal Reserve Chairman Jerome Powell that inflation pressures will likely persist into next year, according to a speech he made Friday. The Dow Jones Industrial Average climbed over 73 points, while the S&P 500 closed modestly lower, still near its all-time high. The Nasdaq Composite saw a sharper drop of 0.82%, as Intel tumbled 11.7% - its worst day in about 15 months. For the week, all three of the major stock averages rose.

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